v3.26.1
SEGMENT REPORTING (Tables) - Single Reportable Segment [Member]
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Line Items]  
SCHEDULE OF OPERATIONS, ASSETS AND CAPITAL EXPENDITURES FOR OUR BUSINESS SEGMENTS

The following table reflects results of operations including significant segment expenses that are regularly provided to the CODM for the Company’s reportable segment and Adjusted EBITDA for the periods presented:

 

   2026   2025   2026   2025 
  

Three Months Ended

June 30,

  

Six Months Ended

June 30,

 
   2026   2025   2026   2025 
Net revenue  $28,136,757   $25,804,252   $55,935,291   $49,238,348 
Cost of goods sold   1,981,347    1,937,282    3,904,936    3,772,249 
General and administrative   5,733,083    3,956,788    10,607,704    8,001,999 
Sales and marketing(1)   16,868,607    15,677,531    33,875,506    30,761,528 
Research and development   1,154,232    1,056,796    1,913,824    2,007,155 
Depreciation and amortization(2)   619,111    688,546    1,206,363    1,382,578 
Other expense(3)   2,191,521    1,987,050    4,440,415    3,433,146 
Net income (loss) from continuing operations  $(411,144)  $500,259   $(13,457)  $(120,307)
Adjusted EBITDA  $5,010,778   $4,719,827   $9,272,946   $7,414,885 

 

(1)For the three and six months ended June 30, 2026 and 2025, sales and marketing included compensation and benefits, commissions, travel and other sales and marketing expenses.
   
(2)Depreciation expense of $7,021 and $12,482 was reclassified as continuing operations in the three and six months ended June 30, 2025, respectively, and is therefore no longer reflected in discontinued operations.
   
(3)For the three and six months ended June 30, 2026, other expense included interest expense, share of losses from equity method investments and loss on disposal of property and equipment, offset by interest income. For the three months ended June 30, 2025, other expense included interest expense and share of losses from equity method investments. For the six months ended June 30, 2025, other expense included interest expense and share of losses from equity method investments, offset by interest income and gain on disposal of property and equipment.
SCHEDULE OF RECONCILIATION OF NET INCOME (LOSS) FROM CONTINUING OPERATIONS TO ADJUSTED EBITDA

The following table provides a reconciliation of net income (loss) from continuing operations to Adjusted EBITDA for the periods presented:

 

   2026   2025   2026   2025 
  

Three Months Ended

June 30,

  

Six Months Ended

June 30,

 
   2026   2025   2026   2025 
Net income (loss) from continuing operations  $(411,144)  $500,259   $(13,457)  $(120,307)
Adjustments:                    
Interest expense   1,810,311    1,791,568    3,609,656    3,108,660 
Depreciation and amortization(1)   619,111    688,546    1,206,363    1,382,578 
Noncash share-based compensation   1,496,310    1,278,871    2,524,645    2,454,367 
Share of losses from equity method investments   433,648    195,482    896,155    339,090 
(Gain) loss on disposal of property and equipment   1,376    -    1,376    (10,932)
Interest income   (53,814)   -    (66,772)   (3,672)
Executive separation costs(2)   -    260,275    -    260,275 
Acquisition and other transaction related costs(3)   1,114,980    4,826    1,114,980    4,826 
Adjusted EBITDA  $5,010,778   $4,719,827   $9,272,946   $7,414,885 

 

(1)Depreciation expense of $7,021 and $12,482 was reclassified as continuing operations in the three and six months ended June 30, 2025, respectively, and is therefore no longer reflected in discontinued operations.
   
(2)Includes $130,174 of share-based compensation related to executive separation costs for the three and six months ended June 30, 2025.
   
(3)Acquisition and other transaction related costs are comprised of legal and advisory services related to prospective acquisitions and corporate strategic initiatives.